FBR clarifies reservations on Audit Policy 2016

ISLAMABAD: The Federal Board of Revenue has clarified several issues raised on Audit Policy 2016.

The FBR’s Taxpayers’ Audit Wing has received numerous representations regarding Audit Policy, 2016 and most of the representations involved similar issues, which are clarified that:-

i) As per sub section (1A) of the section 214C of the Income Tax Ordinance, 2001, Federal Board of Revenue will keep parameters confidential. Therefore, risk parameters used for selection of Income Tax Cases for audit for Tax Year 2015 cannot be disclosed.

ii) Cases selected for audit for Tax Year 2014 can also be selected for Tax Year 2015 as there is no bar in Audit Policy, 2016.

However, the FBR has said that in case of any clarification on the Audit Policy, 2016, the concerned people can contact Second Secretary (TPA) Khalid Sultan at his email address Khalid.sultan@fbr.gov.pk.